SPX Credit Spread Trader

filled on 1225 feb for 2.9........ net credit on spread (1215/1225) is 1.0
like gater there is a ton of resistance to a low that low...
edit...got 3.0 ...somebody up there likes me :D
 
Donna, please excuse the current state of my ignorance, but what are you meaning by "2.9 net credit". That would be a super credit on 1215/1225 put spread. Jack
Quote from DonnaV:

filled on 1225 feb for 2.9 net credit on spread (1215/1225) 1.0
like gater there is a ton of resistance to a low that low...
edit...got 3.0 ...somebody up there likes me :D
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i was actually filled for 3.0 but I had already bought the 1215 for 1.9 so actually my net is 1.10

Quote from Drofman:

Donna, please excuse the current state of my ignorance, but what are you meaning by "2.9 net credit". That would be a super credit on 1215/1225 put spread. Jack
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Quote from DonnaV:

i was actually filled for 3.0 but I had already bought the 1215 for 1.9 so actually my net is 1.10
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I'm glad somebody is getting filled on something. Not enough interest in the 1200/1210 strikes for me to get filled I guess.

ryan
 
Quote from Sailing:

P.S. Off Topic:

Does anyone have any experience with Wood Furnace Boilers? [/B]
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I have a friend with one. They work well but are a lot of work. Check out the corn burning boilers, they make even more sense, unless you do not have ready access to corn.
 
Donna,

Instead, I close the edge at 12.50 (too close to expiration). Close to expiration, the calls drop like a rock. I close the hedge and open a new one for February which will be used for my 1305/1315 and the next one to be opened for February.

I still have the 1305/1315; I have 20 points and a long weekend to think about it.

I also have the 590/595 Call and 580/575 PUT OEX. I will close them as profit presents itself.

If I can have one more day like today (flat), It would be wonderful

Happy Holiday

Quote from DonnaV:

Tough question..I would not change to a bull call at this point with a profit on the hedge...I would either take the profit and close the spread (1305/1315) or let both run...if you take off the hedge then watch very carefully and certainly close the spread early next week if possible..good luck!
Everyone

I own the SPX 1280 @ 12 since last december. I wanted to sell the 1285 for 12.50 or 13 to make it a bull call. Does it make sense. I still have it for hedging my 1305/1315 spreads

Cheers
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Now it makes sense. Has this strategy (buy the long and leg into the spread) been covered here? Or any reference you may have? Or would you mind saying something about the strategy.
Sorry if this has been covered and I just missed it.
Thanks, Jack

Quote from DonnaV:

i was actually filled for 3.0 but I had already bought the 1215 for 1.9 so actually my net is 1.10
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